Entrepreneurship and Small Business Report: Capitafy Company Analysis

This report provides a comprehensive analysis of entrepreneurship and small businesses, examining various types of entrepreneurial ventures, including small business entrepreneurship, scalable start-ups, and large-scale entrepreneurship. It explores the similarities and differences between these ventures, focusing on their purposes, ideologies, and scopes. The report also assesses the impact of micro and small businesses on the economy, using relevant data and statistics to illustrate their contribution to job creation, GDP growth, and overall economic development. Furthermore, it delves into the characteristics, traits, and skills of successful entrepreneurs, differentiating them from other business managers and analyzing how their personalities reflect their motivation and mindset. The report also examines how background and experience can either hinder or foster entrepreneurial endeavors. Finally, the report uses the Capitafy company as a case study to illustrate the concepts discussed.

Entrepreneurship and
Small Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Examine different types of entrepreneurial ventures and explain how they relate to the......1
typology of entrepreneurship......................................................................................................1
P2 Explore the similarities and differences between entrepreneurial ventures...........................2
TASK 2............................................................................................................................................5
P3 Interpret and assess relevant data and statistics to illustrate how micro and small business
impact on the economy...............................................................................................................5
P4 Explain the importance of small businesses and business starts-ups to the growth of social
economy......................................................................................................................................6
TASK 3............................................................................................................................................7
P5 Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business managers............................................................................................7
P6 Assess how aspects of the entrepreneurial aspects personality reflect entrepreneurial
motivation and mindset...............................................................................................................9
TASK 4..........................................................................................................................................10
P7 Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship........................................................................................................................10
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Entrepreneurship refers to starting an managing an business venture in order to gain
profit by selling product and services. Entrepreneurs takes risk and develop business for gaining
success and profit form business venture. Entrepreneurs manges small business in most effective
way want their business to grow in lager organisation. In this report Capitfy company is selected,
organisation is located in London, UK(Belitski, Caiazza, and Lehmann, 2019.). The company
is developer of digital marketing platform designs and offers data drives advertising and
analytical services. In this report various topics are covered such as different types of
entrepreneurs venture and hoe they are related to the typologies of entrepreneurship. It also
included similarities and differences between entrepreneur venture. Further, it includes
evaluation of how small and micro business impact the business venture, various importance of
small business and business starts-ups in growth of economy. Furthermore, it includes
characteristic, traits and skills of successful entrepreneurs, how the personality of entrepreneur
reflect entrepreneurial motivation. In the last it includes how background and experience can
hinder and foster entrepreneurship.
TASK 1
P1 Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship.
Entrepreneur ventures are the individual that operates and manges an business and
influence other people in their organisation. The main objective of these individuals is make an
change and start an innovative business. This individuals make them self as an inspiration and
motivate other people in their business and out side the business. There are various business
entrepreneurial venture are explains below: Small business entrepreneurship: This businesses usually deals with the already known
and established product and services, while the entrepreneur venture focus on make new
idea and innovation in the market with their products and services. This business
entrepreneur start new business with small number of employees and low investment.
These firms have less then 50 employees and their annual turnover can be $2 million.
This business enterprise provide product and services to the customers.
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Scalable start up entrepreneurship:This starts-ups business start with new idea and innovation
that make change in the market. It refers to the everything that make changes with creative idea
and innovation and start business. This businesses face many uncertainties and risk in their
business and also have chance to have failure in the business. Scalable entrepreneurs needs
(Donckels, and Miettinen, 2019) proper planning and management of their businesses in order to
gain success in the industry. Proper business plan help them to gain high growth in the market
and also help them to get attention of target market.
Large scale entrepreneurship: In this businesses entrepreneurs have high number of employees
and also they have huge investment in their businesses. This entrepreneur handles numbers of
operations on daily basis. They chose and develop product and services on the large scale that
needs high level of investment. Large scale entrepreneur frequently changes their business idea
and take initiative to make change in current product and services they are offing to the
customers.
Typologies of entrepreneurship: Survival entrepreneur: This entrepreneur start the business venture to meet their
financial needs and survive in the market. The long term goal of survival entrepreneurs is
to stay in business and make grow accordingly. They always focus on cutting the cost of
production so that they can gain more profit and survive in the market. They work with
less employees and their revenues are also low. These entrepreneurs are take less risk
because in order to take risk it required huge amount to invest in the business.
1. Lifestyle entrepreneur: This kind of entrepreneur make their business on online
platforms, their main motive is to start business that fulfil the needs that can improve
their lifestyle. They work for growth and profit maximisation and they make business
according to the requirements of their own lifestyle. This entrepreneur can start business
according to the small, medium, and large business entities.
 Serial entrepreneur: This entrepreneurs continuously comes with new idea and
innovation in order to make change in the current situations and market needs. Serial
entrepreneur always think about new ideas and innovativeness to grow their business and
attract more customers. They have skills and capabilities to think out of the box and make
huge profit. But there are always huge risk in this type of entrepreneurship.
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P2 Explore the similarities and differences between entrepreneurial ventures.
On the basis of above discussion below is similarities and differences between the
entrepreneurial ventures:
Differences
Scalable start ups and social entrepreneurial ventures
Basis Scalable start ups Small-scale business
Purpose The main purpose of these
entrepreneurs is to make
new business with new
idea and innovation and
take high level of risk in
their business. They think
about the new ides and
innovation and try to
make change in the
market (Gundlach, and
Sammartino, 2019) and
get attention from the
target audience. They
think about new idea and
innovation by observing
the needs and wants of
their customer.
This businesses entrepreneurs
start with the same product and
services that already exists in
the market. This businesses
have small amount of
investment and fewer
employees in the company.
The main motive of this
business to maximisation of
their growth and profit in the
market. They provide product
and services in the market and
make growth from sell.
Ideology The main reason of scalable
business is make change in the
market and provide unique and
innovative product and
services to the target
customers. Their new idea nas
innovation can make major
change in the market.
The main reason of starting
small business is to provide the
product and services to the
customers and make more
profit. They start their business
with the small amount of
investment and make their
business grow with high profit.
Large and small-scale entrepreneurship
Basis Small scale business Large company
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Scope These entrepreneurs are not
willing to take high risk in
their business. The main
motive is to stay in the
business and make huge
growth by making high level
of profit.
This entrepreneur takes huge
risk and willing to make high
level of income from the
business. They operates many
activities and task on daily
basis for the purpose of profit
maximisation and growth.
Risk taking They are not able to take high
level of risk in order to stay in
the market with low
investment. This business
entrepreneur make their
business stable in order to gain
more profit they face less risk.
This entrepreneur take huge
risk in order maximisation of
growth and profit in their
company. They invest high
level of amount in their
product and services so that
they can increase its growth in
the market.
Similarities: There are many similarities in various types of business venture is explained
below:
Scalable start ups and small-scale entrepreneurial ventures:
The main similarities between these entrepreneur are they both provide job and employment
opportunities to the individuals in their business. They also helps in the growth of national
economy and GDP(Henrekson, and Sanandaji, 2020) Both entrepreneurs are passionate
about their business and have skills and capabilities to make an change in the market. Both
take risk to face uncertainties in their business that help them to make profit and growth.
Large and small-scale entrepreneurship:
 The main similarities between these entrepreneurs is motive of their business is make
profit and maximisation of revenues. Both work for the growth of business.
 Both the entrepreneurs are creative and skilled in order to make more customer base and
innovate the product and services.
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TASK 2
P3 Interpret and assess relevant data and statistics to illustrate how micro and small business
impact on the economy.
The micro, small, medium, and large business play an important role economy of the
nation. It helps in development of GDP of the UK also provide the employment to the
individuals. It helps the business organisation to make more profit and growth in the industry.
Below is detail study of various organisation.
Micro organisation: These organisations starts their business with small amount of
investment and low revenues. This business works with maximum 5 employees, this sector of
business depends upon the various sectors of the country. They start business venture with the
purpose of maximum growth and profit in the market.
Small-scale organisation: It refers to the businesses that are privately own by their
owners in order to make profit and stay in the market. This business does not have high level of
revues and employees compared to the normal businesses. The owners are self employed and it
also reflect the start up business. The number of employees in this businesses are less than 500,
however they provide better employment opportunities in order to start business and make their
business grow.
Medium organisation: This businesses are medium in the size of employees and the
amount of investment, they run their business with around 300 employees that helps the
business to grow in the market and increase the profit shares. (Kubberød, Viciunaite, and
Fosstenløkken, 2019)
There are number leaders and mentors in the organisation that helps them to grow and have
successful business organisation.
Large organisation: This businesses have high level of growth and operates in global
level organisations. They have high level of employee turnover and growth in the market. This
owner of large business invest huge amount of the product and services and take high level of
risk.
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The above graph reflect the contribution of SME businesses in the economy of UK. The
graph reflect that the micro businesses in the country contributes 96 % in businesses, they
provide 33 percent employment to the individuals in country also they have 21 percent
annual turnover in the country comparison to the small, medium, and large organisations.
On the other hand, small-scale business in the country have 4 percent of business in the
country, they provide 15 % employment and have 15 percent annual turnover in the
country. The medium businesses in UK have 1 percent businesses In the country, they have
15 % turnover and provide employment to the 15 % population of the country. And the
large businesses in the UK have annual turnover of 48 percent and provide employment to
the 40 % population of the country. Thus, form the graph it is analyse that(Kunaka, and
Moos, 2019) SME sectors in the country have huge contribution in order to increase the
economy of the country.
P4 Explain the importance of small businesses and business starts-ups to the growth of social
economy.
The small businesses and starts-ups plays important role in development and growth of
the country's economy. They contributes in the development of the GDP and national growth of
the country. Below is the explanation of how the small businesses and starts-ups contributes in
the economy. Job creation: This businesses provide high level of employment in the country by
providing opportunities to the individual to work with starts-ups companies and grow
with the company. New starts-ups organization needs workforce to increase the growth of
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the company and provide better future to the country's population. On the other hand they
provide quality products and services in the market that could increase the level of
profitability and competition in the market. Improve living standard: By providing better quality products and services they also
increase the level of standard of the people. They provide employment so that the
individuals in the country can improve their living standard and have healthy life style.
Providing the opportunities to the people will motivate them to work hard and earn better
income in order to gain improved life style.
Economic growth: The small business and starts-ups firms works for the high level of profit and
growth of the country this help(Kuzieva,2020) the to earn better profitability and stability in
the industry. With this they are able to pay tax to the government and increase the growth of
the economy. This increase the level of motivation of individuals to start business and being
an entrepreneur of their own business.
 Growth of GDP: The gross domestic product is the total number of product and services
in an particular country. The growth of GDP depends upon the number of businesses and
the variety of product and services provided by them. The new starts-ups companies
introduce new products in the market that help the country in the growth of GDP.
Thus, the small businesses and starts-ups helps in the growth of social economy and increase the
level of development of the country. The innovation and unique product and services also
develop the image of country in other nation and help in the national and international growth.
TASK 3
P5 Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business managers.
To become an successful entrepreneur and businesses the individuals need high skills and
traits in their personality. They need proper knowledge and information about the market and
thjet helps the to become successful entrepreneurs in the market. Jeff Bezons and Bills Gates are
tow most successful entrepreneurs in the world. They become an inspiration for the individual
who want to start new business and organisation and gain profit and wealth in the market. Below
are some characteristic, traits and skills that these two entrepreneur has and every individual
should have in order to their business grow.
Characteristic of Jeff Bezons and Bills Gates:
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 Passionate: It is one of the most essential characteristic that every individual should have
in order to start new business. The entrepreneur should be passionate about the work
they are doing and the business they want to start. Without being passionate about
something they want to achieve they can not achieve the growth they want. Jeff Bezons
and Bills Gates both has the characteristic of being passionate about the work they are
doing. They always focus on the perfection and effectiveness by this characteristic they
achieve high growth in the market and increase their market shares.
 Hard working: being hard working always helps the people to make perfection in
whatever they do. The entrepreneurs must have this characteristic in order to make their
business grow and successful. Jeff Bezons and Bills Gates both are hard working and
that helps them in achievement of all the goal and objectives they set for their business.
They work hard until their businesses become inspiration for every one. They are also
make them other people motivate to do work hard for whatever they want in their life.
Skills of Jeff Bezons and Bills Gates:
Leadership skills: It is one of the most important skill that entrepreneur should have in order to
make their business grow and successful. This skill essential because entrepreneur have to
handle all the workforce in their business and motivate them to work hard for the business.
Jeff Bezons(Lambert, 2019) and Bills Gates both have leadership skills by which they
effectively mange their businesses and mange the workforce of the organisation.
 Innovative skills: Making businesses innovative and creative needs to have an effective
individual who always think about the innovation and new ideas. It helps the business
persons to make an effective image in the market and increase the customer base by
innovation and creativeness. Jeff Bezons and Bills Gates both have innovative and
creative mind and always think about the providing innovative product and service in the
market. With this skills they leave an effective image in the market and become most
successful entrepreneurs in the world.
Traits of Jeff Bezons and Bills Gates:
 Confident: Jeff Bezons and Bills Gates both are confident about wtherver they do in
order to gain success in their business. They work for better achievement of gaols and
objectives of the company. They make other people motivate with level of high
confidence in their work.
 Disciplined: Being disciplined about the daily work routine is very important to start an
business and manages it in most effective way. Jeff Bezons and Bills Gates both are
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having this trait in their personality by which they gain profit and manage all the
organisation in most effective manner.
P6 Assess how aspects of the entrepreneurial aspects personality reflect entrepreneurial
motivation and mindset.
In order to understand reflection of entrepreneur's personality and mindset the OCEAN
MODEL is explained below: Openness: This kind of personality refers to the emotion, ideas and adventures. This
personality reflect the people with more open minded and active in nature. These people
are ready to try new things and innovativeness in their life, they are always ready to learn
new things that helps them to increase the knowledge and information in the businesses.
This personality trait help the entrepreneurs to make new innovation and change in the
current scenario of the business.
 Conscientiousness:This entrepreneur are always focus on their goals and objectives, and
make innovative thoughts in the business. (Liu, Qian, and Haynes, 2020) This
entrepreneur have good relationship with other employees and staff members. They have
abilities and capabilities to influence other people in order to gain the objectives and
goals of the company. They make most effective plan for the business that help them to
gain more success in the organisation.
 Extraversion:This people are more social and likes to be an centre of attraction, they
always want to meet and make new relationship with other peoples. They behave
energetic in the organisation that influence other employees to be an active member of
the company. They always make other people happy and think about their point of view. Agreeableness:This individuals show the personality of trustworthy, kind, and
sympathy. They are very corporative and kind in nature that helps them to gain the
loyalty of the people and trust. They also willing to make other people's work more
effective and innovative so that they can also gain effectiveness.
 Neuroticism: This individuals are extreme emotional and wired in nature, sometimes
they become unstable and that affect the decision making process of the company. This
personality reflect the introvert that is not suitable for the being an entrepreneur.
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TASK 4
P7 Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship.
Jeff Bezons
Background: On 12 January 1964, an American business entrepreneur was born, he is
founder, CEO and president of well known and established company Amazon. Company is
multinational technologism company. Jeff Bezons become the richest person of the world
since 2017. he was born in Albuquerque and raised in Houston latter Miami, he had
completed his graduation from Princeton University, in 1986. Jeff Bezons founded Amazon
in 1994, after that company continuously growing and making huge revues and growth in
the market. Before that he worked on Wall Street in verity related fields (Ndoro, Louw, and
Kanyangale, 2019) from 1986. the company begins its growth as an online book store in the
market and make huge growth in the market.
Experience: The entrepreneur has been tried many business venture and gain knowledge
from it. He had many businesses venture that help him to make their business grow and effective
and successful. He had degree in electronic engineering and computer since. He worked on Wall
streets for many years that make him more experienced and knowledgable in their filed. Than he
started business of Amazon that contentiously grow and make huge impact on the business and
his career.
Bills Gates:
Background: On October 28, 1955, Bills Gates was born, and he belongs to upper middle
class family, his family always support and motives him for better future and growth of the
company. The entrepreneur belongs form educated and open minded family that always allow
him to make innovation and development from new ideas. His family motivate and guide him to
become an better person, that helps him to starts and effective business named Microsoft, that
make an huge impact on the market and innovation helps the business person to gain more
profitability and growth of business. He was the student of Harvard university in 1973, but there
he is not getting any interest. He spend his time by playing video games that develop his interest
in technology and innovation. After that he successfully become and entrepreneur and starts new
business.
Experience: He was always interest in the computer and video games that help him to
become an successful business person and start successful business. There was an firm that help
the entrepreneurs to start new business and company that help the Bills to become an
entrepreneur.
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CONCLUSION
From the above information it can be conclude that entrepreneurship and small business helps
the economy of country to grow and provide employment to the individuals. In this there are
different types of entrepreneurs and their typologies that explain that they have different purpose
to start business venture. The start up helps to increase the national economy and provide
employment to individuals.
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